SouthState Corp Acquires 411 Shares of Organon & Co. (NYSE:OGN)

SouthState Corp increased its position in Organon & Co. (NYSE:OGNGet Rating) by 85.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 891 shares of the company’s stock after acquiring an additional 411 shares during the quarter. SouthState Corp’s holdings in Organon & Co. were worth $31,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Fairfield Bush & CO. boosted its position in shares of Organon & Co. by 3.0% in the first quarter. Fairfield Bush & CO. now owns 16,302 shares of the company’s stock valued at $569,000 after acquiring an additional 481 shares during the period. Kendall Capital Management bought a new position in shares of Organon & Co. in the first quarter valued at approximately $342,000. CIBC Asset Management Inc boosted its position in shares of Organon & Co. by 12.8% in the first quarter. CIBC Asset Management Inc now owns 34,060 shares of the company’s stock valued at $1,190,000 after acquiring an additional 3,865 shares during the period. IndexIQ Advisors LLC bought a new position in shares of Organon & Co. in the first quarter valued at approximately $35,000. Finally, Retireful LLC bought a new position in shares of Organon & Co. in the first quarter valued at approximately $608,000. 70.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OGN has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on shares of Organon & Co. from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, July 8th. The Goldman Sachs Group started coverage on shares of Organon & Co. in a research note on Wednesday, April 27th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Bank of America downgraded shares of Organon & Co. from a “buy” rating to a “neutral” rating and lowered their target price for the company from $40.00 to $37.00 in a research note on Friday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $37.80.

Organon & Co. Price Performance

Shares of OGN opened at $31.50 on Friday. The firm’s 50 day simple moving average is $34.03 and its 200 day simple moving average is $34.46. The company has a market capitalization of $7.99 billion, a P/E ratio of 6.18 and a beta of 0.47. Organon & Co. has a 1-year low of $28.50 and a 1-year high of $39.47.

Organon & Co. (NYSE:OGNGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.31 by $0.34. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.52 billion. Organon & Co. had a net margin of 20.42% and a negative return on equity of 103.33%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $1.56 earnings per share. On average, equities analysts anticipate that Organon & Co. will post 5.09 earnings per share for the current year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Friday, August 12th. Organon & Co.’s dividend payout ratio (DPR) is presently 21.96%.

Organon & Co. Company Profile

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Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.

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Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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